The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-12-31
DUN s co.'s BUSINESS REVIEW.

A Year of Enormous transactions Closes
with a Feeling OF Doubt and Uncertainty.
NEW YORK. Dec Or. G. Dun & Co, in
their weekly review of trade, say: IA year of
enormous business closed with q little mora
than the seasonable dullness Transactions
much beyond the average 10 September and
October prepared for slackening of trade
in November and December which has been in
creased by tariff uncertainties, by several
strikes of importance and by a speculative adj
vance n prices. Unusual pressure for money
during the fall, the other hand, caused ad-
justments which prevent severe pressure as the
year closes, and. except at a few Western
points, the money markets are comparatively
easy, with collections almost everywhere fair,
and at most points reasonably good. Holiday
trade has generally been large, and the
recent change in weather brings greater activity
in some branches. But the pending strikes and
controversies about wages, and uncertainty TO
the future in of the largest industries,
operate unfavorably. Ease of money, and
belief that the Reading strike would not last.
have helped stocks TO improve until to-day.
when the day opensd with some reaction.
Hopes of activity and advance after New Years
sustain prices. but the great movement of
foreign capital hitnerward for investment has
ceased, at least for the time. In Novem Der.
slightly exceeded the incoming goods and
capital. December exports at New York l.
per cent below last years, against imports l.
per cent below, indicate that at least SIS 000,
900 in goods and cash has probably gone
abroad, and foreign sales have exceeded
purchases of securities. If continued, this
movement will affect the placing Of securities
for new roads. and thus influence great indus
tries. The. dying year has II. 724 miles of
railway finished. making the mileage for the
United States $50, 10, bat changes of freight
rates at the West tend steadily downward, leav-
ing poor prospect for building next year. The
Pennsylvania reports decrease OF $17O,O in
net earnings for November and the Erie de-
crease of ga, 233.
The iron industry, after the largest years out
put record, is rapidly cutting down produc-
tion prices. and. at many points wages Since
March the average grade at Philadelpha has de-
clined LAP. and prices of rails six dollars.
Sales of 20, 600 tons of Alabama and Tennessee
iron is reported, but no sales of rails. for which
next years orders cover only 200, 600 tons The
Western Nail Association lower card rates from
81. % to 81.
The cotton industry records for the year larg-
err production. sales and profits than for 1856,
and the year closes with excellent demand,
stocks well cleaned up and many makes sold
well ahead. But the WOODEN manufacture is
described as having about the most unsatisfac-
tory year it has ever experienced with business
smaller and profits smaller than last years
Enormous importations have left q large stock
OF dress goods on hand; overcoatings moving
fairly, but fine goods al from to 10 per cent.
lower.
The coal production has been the largest on
record, but the mark ct closed with some excite
ment, the Lehigh strike continuing, while dis
patches affirm that Reading miners will strike
Jan. l.
The grocery trade has been very large for the
year, and closes with fair activity. notwithstand
ing the speculation in coffee and the rise in
sugar following reports of decrease OF &c.,
900 tons in beet product. Provisions hold the
recent advance; beef again a shade dearer,
and there has been rise of &C in oil. Cotton in
spite of small receipts. is a shade lower but
breadstuffs have risen, wheat and corn about lie
each.
The Treasury has added s714000 to its de-
posits with banks and 81 900 600 to the crcula-
ton during the week. Il has now increased
the circulation of coin and paper about $64 000,-
600 since July /, and $3.50, 900, 600 since July /,
1856
The incomplete returns of clearing house ex-
changes indicate an aggregate for the year OK
ceeding So, 900, 600. 600. with gain of about
per cent. over last year. but November showed
q small decrease, and IN December the decrease
in payments has been considerable.
The years failures show decrease of 200 in
number. but a large increase $50. 900 000 in liza
bilities follows: 1887. number, o. CAB; liabili-
ties, Sl67. $50, 944; average S17 1892 1885, number
:}S4; liabilities. STA 644 49, average, $I1,651
The returns for the Dominion OF Canada show
1882 failures. with $40 311 745 liabilities aver
age, 81 ,S03. The failures in the Dominion were
one in every 81 persons in business; in the
United States they averaged one in every Ill
persons.